Authorizing The Reversion To The General Fund Of Dormant Or Unnecessary Special Fiduciary Funds.
Download as PDF
Download as Word
My Notes
Highlights
New
Collections
Create a New Collection
Overview
Full Text
Details
Case
Agency Issuance Number
Published Date
Authorizing The Reversion To The General Fund Of Dormant Or Unnecessary Special Fiduciary Funds.
Presidential Decree No. 1374
May 16, 1978
Case Overview and Summary
Summary of Presidential Decree No. 1374Statement of Policy (Section 1):
- All government revenues shall accrue to the General Fund to support approved priority programs and projects.
- Earmarking of revenues for specific uses is discouraged, except for major priority projects with substantial funding requirements for a special period.
Abolition of Special and Fiduciary Funds (Section 2):
- The President is authorized to abolish dormant or unnecessary Special or Fiduciary Funds.
- All assets, liabilities, surpluses, and appropriations of abolished funds shall be transferred to the General Fund.
- The Secretary of Finance, Commissioner of the Budget, and Chairman of the Commission on Audit shall review and recommend to the President which funds should be abolished based on the following criteria:
- The fund is dormant.
- The basis for the fund's creation no longer exists.
- The fund's purposes are provided for by appropriations from the General Fund, rendering it unnecessary.
Rules and Regulations (Section 3):
- The Secretary of Finance, Commissioner of the Budget, and Chairman of the Commission on Audit shall recommend rules and regulations for the effective implementation of this Decree, subject to the President's approval and issuance.
Repealing Clause (Section 4):
- All existing laws, decrees, letters of instructions, rules, and regulations inconsistent with this Decree are hereby repealed or modified accordingly.
Effectivity (Section 5):
- This Decree shall take effect immediately.
Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
special funds
fiduciary funds
general fund
earmarking
revenue
taxes
imposts
government resources
priority programs
administrative reasons
substantial funding
special period
dormant funds
unnecessary funds
assets
liabilities
surpluses
appropriations
national government
rules and regulations
implementation
repealing clause
effectivity
Law
Authorizing The Reversion To The General Fund Of Dormant Or Unnecessary Special Fiduciary Funds.
Presidential Decree No. 1374
•May 16, 1978
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 1374
AUTHORIZING THE REVERSION TO THE GENERAL FUND OF DORMANT OR UNNECESSARY SPECIAL FIDUCIARY FUNDS.
WHEREAS, the proper allocation of government resources calls for the comprehensive review of government planning objectives and priorities, in conjunction with aggregate receipts and resources;
WHEREAS, the earmarking for specific purposes of proceeds from taxes, imposts or other revenues of government, trends to frustrate a comprehensive review of priorities and resources available;
WHEREAS, the initial operation and the implementation of certain priority activities may justify the creation of Special or Fiduciary Funds for a specified period of time;
WHEREAS, the transfer of dormant or unnecessary Special and Fiduciary Funds to the General Fund would facilitate the implementation of social economic programs and projects which will benefit and improve the welfare of the masses.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby Order and Decree:
Section 1. Statement of Policy. All revenues of government shall accrue to...
Login to see full content
Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
special funds
fiduciary funds
general fund
earmarking
revenue
taxes
imposts
government resources
priority programs
administrative reasons
substantial funding
special period
dormant funds
unnecessary funds
assets
liabilities
surpluses
appropriations
national government
rules and regulations
implementation
repealing clause
effectivity
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 1374
AUTHORIZING THE REVERSION TO THE GENERAL FUND OF DORMANT OR UNNECESSARY SPECIAL FIDUCIARY FUNDS.
WHEREAS, the proper allocation of government resources calls for the comprehensive review of government planning objectives and priorities, in conjunction with aggregate receipts and resources;
WHEREAS, the earmarking for specific purposes of proceeds from taxes, imposts or other revenues of government, trends to frustrate a comprehensive review of priorities and resources available;
WHEREAS, the initial operation and the implementation of certain priority activities may justify the creation of Special or Fiduciary Funds for a specified period of time;
WHEREAS, the transfer of dormant or unnecessary Special and Fiduciary Funds to the General Fund would facilitate the implementation of social economic programs and projects which will benefit and improve the welfare of the masses.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby Order and Decree:
Section 1. Statement of Policy. All revenues of government shall accrue to...
Login to see full content